Want to jump straight to the answer? One of the best crypto wallets for NFTs is the Coinbase software wallet.
Non-fungible tokens (NFTs) have exploded in popularity over the past year. They function as verifiable proofs of authenticity and ownership within a blockchain. NFTs can represent digital and real-world items such as works of art, real estate, property rights, and individual identities. However, before you can collect and invest in non-fungible tokens, you will need an NFT wallet. The following discussion will summarize the five best NFT wallets and what to look for when choosing one.
Quick overview of the best crypto wallets for NFTs:
- Best for easy browser access: MetaMask
- Best Portfolio Supported by Institutional Investors: Math Wallet
- Ideal for simple trading: Trust Wallet
- Best Overall NFT Wallet: Coinbase
- Best for managing and exchanging NFTs: Enjin Wallet
What are NFT wallets?
An NFT wallet is a cryptocurrency wallet that supports the blockchain protocol on which NFTs are built. Additionally, NFT wallets must support the cryptocurrency used to purchase the NFT, such as Ether (ETH). Overall, they are a safe way to manage, buy or sell NFTs.
Top 5 Best NFT Wallets
The right NFT wallet for you will depend on a variety of factors, including your level of experience, your security needs, and the types of tokens you store. However, some wallets stand out from the rest. Here is a summary of the five best NFT wallets available today.
Best for easy browser access: MetaMask
Trusted by over 21 million users worldwide, MetaMask is by far the most popular crypto wallet software. It is a browser extension and is available for Chrome, Firefox, Brave and Edge. In terms of mobile app, it doesn’t matter what type of device you use — MetaMask is available for Android and Apple devices. The mobile application includes an integrated browser for decentralized applications (DApps) and NFT marketplaces.
MetaMask provides easy access to Web 3.0 sites like NFT Marketplaces with just a few clicks. Users receive a key vault, secure login, token wallet, and token exchange — more or less everything you need to manage your digital assets. Additionally, MetaMask lets you create multiple wallet addresses so you can keep NFTs at a separate address from your cryptocurrency.
The default network for all MetaMask wallets is the Ethereum mainnet. This means that MetaMask only supports the Ethereum network and non-Ethereum networks compatible with Ethereum Virtual Machine (EVM) such as Fantom, Polygon, Binance Smart Chain, and Avalanche.
Best Portfolio Supported by Institutional Investors: Math Wallet
Math Wallet is arguably the most powerful alternative to MetaMask. The most notable competitive advantage of Math Wallet is the fact that it supports over 70 blockchains. For this reason, Math Wallet is widely considered the gateway to the blockchain world.
Math Wallet also offers a desktop and mobile version of the wallet that syncs across devices and also integrates with multiple hardware wallets. Users can create multiple addresses with Math Wallet.
The platform is secure and simple, making it a great starting point for anyone interested in the blockchain industry. Math Wallet allows you to trade, manage, buy, sell and cash out your NFTs.
The project is also backed by many big names in the blockchain industry, including Fenbushi Capital, Binance Labs, Fundamental Labs, Alameda Research, NGC Ventures, Capital6 Eagle, and Amber Group. As a result, developers have great incentive to continue working on the wallet and expanding its functionality in the short and long term.
Ideal for simple trading: Trust Wallet
Trust Wallet is a mobile-only wallet that allows you to easily buy, sell, trade, collect and cash out your NFTs. Trust Wallet is owned by Binance. The implication here is that while it supports multiple blockchain platforms, including Ethereum, its association with Binance means it is particularly biased towards NFTs on the Binance Smart Chain. However, if you are interested in NFTs on the Binance Smart Chain, Trust Wallet may be the best option.
Additionally, Trust Wallet allows you to import old wallets without having to back up your private keys or install additional software. With over 10 million active users, you can rest assured that you will be in safe hands using this wallet.
Best Overall NFT Wallet: Coinbase
Coinbase is one of the most popular cryptocurrency exchanges for buying and selling cryptocurrencies. It also offers a non-custodial wallet suitable for NFTs and other tokens. Unlike holding cryptocurrency on the Coinbase exchange, holding assets in the Coinbase wallet gives users absolute control over their crypto.
In 2021, Coinbase released a browser extension that allows users to use their wallet across devices to purchase NFTs and interact with other DApps. The interface is user-friendly, easy to navigate, compliant with many jurisdictions, and supports a long list of cryptocurrencies.
A unique benefit of Coinbase is that it allows you to transfer tokens to others using usernames rather than public wallet addresses. Coinbase also offers one-click cloud backup for your private keys so you don’t lose access to your NFTs and other funds.
Overall, Coinbase Wallet is a phenomenal choice for those new to the world of NFTs.
Best for managing and exchanging NFTs: Enjin Wallet
Enjin Wallet is a great choice for those who want to keep track of all their crypto and NFTs in one place. The wallet allows you to easily exchange, collect and trade your digital assets. The wallet also has a built-in exchange for fast transactions.
Users can create as many accounts as needed for any purpose, be it for day-to-day spending or a wallet for blockchain gaming. Old wallets can be imported and it is easy to connect hardware wallets such as Ledger or Trezor.
Importance of NFT wallets
NFT wallets are important because they provide access to digital assets held on the blockchain. A wallet takes care of all the technical aspects and provides a simple interface for buying and selling NFTs as well as interacting with different DApps. Wallets also offer increased security through features like two-factor authentication.
Important Features To Look For In Most Popular NFT Wallets
Here are some key things to consider when choosing a suitable NFT wallet.
Compatibility with the NFT marketplaces you want to buy from
The first thing to consider is whether a particular NFT wallet is compatible with the NFT market you want to engage in. If the wallet isn’t supported, you won’t be able to buy the NFTs you want, so it’s a non-starter.
Moreover, NFT transactions are not limited to exchanges; there are many applications that allow users to interact with different NFTs. Nevertheless, compatibility is important for users who buy, sell or manufacture NFTs.
After making sure your NFT wallet is compatible with the apps or marketplaces you want to interact with, the next most important feature to consider is security. The best NFT wallets in terms of security will offer features like two-factor authentication, which uses an extra layer of security to prevent cybercriminals from accessing your account remotely.
The wallet provider should also describe the possible risks and dangers associated with their unique wallet.
It is important to consider the level of anonymity in addition to the level of privacy offered by each wallet. Some wallets make it extremely easy for anyone to view all transactions made with blockchain-based assets. Alternatively, some wallets are more private than others, but they’re also less user-friendly because they don’t have built-in exchanges or web links to buy NFTs online.
Being able to access your NFTs on a variety of devices is extremely convenient. In addition to a desktop interface, many users now use their mobile devices to perform NFT transactions.
In addition to Ethereum, the most popular blockchain for NFTs, there are several other platforms that support NFTs. Ideally, you’ll want a wallet that’s compatible with as many channels as possible to give you easy and convenient access to as many NFTs as possible.
A great NFT wallet will offer a simple and user-friendly interface to use. A good user interface will make selling and buying NFT a pleasant experience.